Market Turbulence Affects French Asset Manager’s Financials

Amundi Asset Management preparing to go public this week

Europe’s biggest asset manager was hit by market turbulence earlier this year, according to its financial results published Tuesday.

Amundi Asset Management, which is preparing to go public in Paris in the coming weeks, collected in €19.2 billion ($21.2 billion) in new assets in the third quarter of this year, up from €8.6 billion during the same period last year. But the gain was wiped out by a €21.2 billion drop in the value of its assets as markets were hit by worries over Chinese GDP growth and the possibility that the...